"Venice's AI Revolution: VVV Token Launch on Coinbase's Base Network"

Erik Voorhees-backed AI startup Venice has made waves in the tech industry with the launch of its own token, VVV, on Coinbase’s Base network. The token, which aims to make Venice's API more accessible, has been met with enthusiasm from the AI and crypto communities. Venice, backed by ShapeShift founder Erik Voorhees, seeks to offer an alternative to the increasingly centralized and censored AI offerings of major tech firms.

The VVV token, with a limited supply of 100 million, has seen significant interest since its launch. An airdrop of 50 million tokens was distributed, with half going to over 100,000 Venice users and the other half to AI and crypto communities like Virtuals, Luna, and VaderAI. The token's distribution is designed to incentivize staking, with 14 million new tokens added each year as staking rewards.

However, the success of Venice and its token has also attracted scammers looking to capitalize on the hype. According to data from cybersecurity firm BlockAid, at least 75 scam tokens associated with Venice were created by January 27, a threefold increase from the previous day. DeepSeek, another AI firm that has gained significant attention, has also faced similar issues with fraudulent tokens.

The VVV airdrop for the AI project based on DeepSeek has been claimed for approximately 8.67 million tokens, accounting for about 17.3% of the total airdrop supply. The airdrop, which lasted for 18 hours, saw 8,675,130 tokens claimed, with 3,997,028 VVV tokens in a staked state, held by 20,794 addresses. The initial supply of VVV tokens at TGE was 100 million, with no presale or external investors, and had an FDV of $20 million at launch.